I don't disagree that this is an extraordinarily complex area—issues of extraterritoriality, the application of the income tax provisions to other jurisdictions. There are ways in which companies conduct their other business. But it seems to me that the minister has chosen to use the bluntest instrument possible in putting the statement in the budget and then leaving everybody to wonder how in heaven's name this is going to affect them, particularly with respect to, say, businesses contemplating the acquisition of foreign assets. It does strike me as something less than a nuanced application of what we all agree is an extraordinarily complex area.
On May 1st, 2007. See this statement in context.